HRE reviews to the theirs needs in liquidities
Monday, December 1, 2008 – 2:34 amHRE reviews to the theirs needs in liquidities
(Easybourse.com) The German bank specialized in the real estate credit, Hypo Real Estate, announced this Monday that it would have need more than the 50 billions of euros that have been granted him by the slant of the plan of lifesaving of the financial sector of the German state. Besides, Hypo Real Estate estimates that she could need a support of the German state with regard to their present credit line that expires at the end of next year. Otherwise, the bank public German KfW displayed a clean loss of 1,8 billion of euros for the account of the first nine months of the year.
Whereas the German economy has been declared last week in recession, nothing is simple in the German financial sector. Indeed, Hypo Real Estate, specialized bank in the real estate credit, informed this Monday that she/it would probably have more than need the 50 billions of euros proposed by the German state in the setting of their plan of lifesaving of the financial sector.
The German bank announced that from here at the end of the year, their needs in liquidities could be superior to 50 billions of euros. The establishment specialized in the real estate credit has been affected full on by the financial crisis. The group indicated to expect to ‘heavy loads’ for 2009.
Last week, Hypo Real Estate had made known that she didn’t intend to distribute dividend nor to the title of 2008 nor to the title of the following year. The bank had noted a loss of 3,1 billions of euros for the account of the third quarter.
Otherwise, the bank public German KfW announced a loss of 1,8 billion of euros to the title of the first nine months of this year. The public bank also endured the financial crisis of by their exhibition to the bank business American Lehman Brothers that deposited the balance in last September.
But KfW also knew a cost of 1,1 billion of euros concerning their engagement by the establishment deprived IKB. She should also have passed 1,6 billion of euros in depreciations of assets.
For recall, the bank public KfW is in the center of an investigation of the Public prosecutor’s office of Frankfort about a transfer of 300 millions of euros that she would have done by Lehman Brothers stays up it of their balance deposit.
This Monday toward 13h15, the title Hypo Real Estate progressed of 0,31%, to 3,25 euros, to the purse of Frankfort.